DP World, the world's fourth-biggest port operator, handled 10.1 per cent more in gross container volumes on a reported basis last year due to an uptick in global trade. The company is also bullish on overall performance.
"Benefitting from the improved trading environment and market share gains, our global portfolio once again delivered ahead-of-market growth in 2017 and has seen strong performance across all three regions," said DP World chairman and chief executive Sultan bin Sulayem.
The company handled 70.1 million twenty-foot equivalent units (TEUs) last year amid broad-based growth across all regions, it said in a statement. Growth on a reported basis includes new terminals. In the UAE, DP World handled 15.4 million TEUs in 2017, up by 4 per cent year-on-year.
In the fourth quarter, volumes grew 10.3 per cent year-on-year on a reported basis.
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Read more:
DP World partners with infrastructure fund to invest $3bn in India
DP World expects 10% growth in 2017 gross container volumes
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“Given the strong volume performance of our portfolio, we are well placed to meet full year 2017 market expectations,” Mr Sulayem said.
DP World expects to spend about $1 billion every year for the next three years as it ramps up investments, adds capacity and acquires new assets to strengthen its global footprint, Mr Sulayem told The National in January. It has spent about the same amount on capital expenditure in 2017.
“As we look ahead into 2018, we expect to continue to grow ahead of the market and see increased contributions from our new developments,” said Mr Sulayem. “We continue to seek opportunities in complementary sectors in the global supply chain and will maintain capital expenditure discipline by bringing on capacity in line with demand.”
DP World is expanding its reach with new investments and terminals.
The port operator and India's National Investment and Infrastructure Fund (NIIF) said in January they have set up a $3bn fund that will invest in India by acquiring and developing ports, terminals, transportation and logistics assets in Asia's third largest economy.
The port operator is benefitting from an uptick in global trade, which was forecast to have increased by 3.6 per cent in 2017 from 1.3 per cent in 2016, thanks to Asian trade flows and a pick up in import demand in North Africa, the World Trade Organisation said in September.
How to get exposure to gold
Although you can buy gold easily on the Dubai markets, the problem with buying physical bars, coins or jewellery is that you then have storage, security and insurance issues.
A far easier option is to invest in a low-cost exchange traded fund (ETF) that invests in the precious metal instead, for example, ETFS Physical Gold (PHAU) and iShares Physical Gold (SGLN) both track physical gold. The VanEck Vectors Gold Miners ETF invests directly in mining companies.
Alternatively, BlackRock Gold & General seeks to achieve long-term capital growth primarily through an actively managed portfolio of gold mining, commodity and precious-metal related shares. Its largest portfolio holdings include gold miners Newcrest Mining, Barrick Gold Corp, Agnico Eagle Mines and the NewMont Goldcorp.
Brave investors could take on the added risk of buying individual gold mining stocks, many of which have performed wonderfully well lately.
London-listed Centamin is up more than 70 per cent in just three months, although in a sign of its volatility, it is down 5 per cent on two years ago. Trans-Siberian Gold, listed on London's alternative investment market (AIM) for small stocks, has seen its share price almost quadruple from 34p to 124p over the same period, but do not assume this kind of runaway growth can continue for long
However, buying individual equities like these is highly risky, as their share prices can crash just as quickly, which isn't what what you want from a supposedly safe haven.
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Director: Raed Zeno
Rating: 4/5
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September to November or March to May; this is when visitors are most likely to see what they’ve come for.
WHERE TO STAY:
Meghauli Serai, A Taj Safari - Chitwan National Park resort (tajhotels.com) is a one-hour drive from Bharatpur Airport with stays costing from Dh1,396 per night, including taxes and breakfast. Return airport transfers cost from Dh661.
HOW TO GET THERE:
Etihad Airways regularly flies from Abu Dhabi to Kathmandu from around Dh1,500 per person return, including taxes. Buddha Air (buddhaair.com) and Yeti Airlines (yetiairlines.com) fly from Kathmandu to Bharatpur several times a day from about Dh660 return and the flight takes just 20 minutes. Driving is possible but the roads are hilly which means it will take you five or six hours to travel 148 kilometres.
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